Through its subsidiary, Ailleron enters new markets and gains access to more than 200 highly qualified IT specialists. Software Mind, a member of the Ailleron Group, executed a preliminary purchase agreement with respect to shares in Code Factory Consulting Group SRL of Romania and Code Factory SRL of Moldova. Thanks to the acquisition, Ailleron will get approx. PLN 50M in revenue of good profitability and access to new, prospective markets. What is extremely important for the entire Group is that the talent pool will increase by 200 new employees with valuable experience in areas such as fintech, e-commerce, and online sport betting.
According to Grzegorz Młynarczyk, the President of Software Mind, the acquisition is another step in the implementation of an ambitious strategy of the Ailleron Group, the purpose of which is to achieve the position of a global IT partner for organizations that want to speed up their digital development, provide groundbreaking solutions, and redefine the markets on which they operate.
“The acquisition of Code Factory in Romania and Moldova is an effect of a consistent implementation of the development strategy of Software Mind and the entire Ailleron Group. After a detailed analysis, we evaluated the attractiveness and potential of the companies as high. We want to grow through organic development and through more acquisitions in the key regions for us. Together with Enterprise Investors, we are building a leading group on the Polish market of software houses that will have a global reach. The assumption of our acquisitions program is to focus on entities that we can purchase at a reasonable price, at the same time getting high potential and development opportunities. Our next targets are Latin America and North America, and the goal is to acquire competences that will allow us to provide services to our clients on the American market,” Grzegorz Młynarczyk, President of the Management Board of Software Mind Sp. z o.o. and Vice President of Ailleron S.A., says.
The acquisition of Code Factory by Software Mind, which already purchased ValueLogic of Wrocław in April 2021, provides the Group with knowledge and new talents that will make it possible for the Group to support leading brands in various sectors and countries that are important for the Group. A wider access to world class specialists and an expansion of the portfolio of new competences increases Software Mind’s ability to scale itself up as its clients grow.
“Code Factory is currently one of the leading software development companies in Moldova and Romania. Its acquisition shows out strong involvement in the development of the Eastern European market, which is Software Mind’s nearshore base and supports the dynamic development of our clients based in the United Kingdom, Europe, and North America. The fact that Code Factory joins Software Mind will increase the scale of our operations even more, allowing us to confidently enter new markets with our premium IT services. I believe that it is a major step forward and I’m optimistic about the cooperation with our new partners.” Mr. Młynarczyk comments.
Ionut Negrescu, the President of Code Factory, adds: “By becoming a part of Software Mind, out nearshore teams in Moldova and Romania will have an opportunity to take part in innovative projects and develop groundbreaking solutions. Thanks to joining forces, our dedicated teams will allow for a better cultural adjustment, ensure time zones compatibility, and provide the technical skills expected by companies all over the world from their software partners.”
Code Factory ROM and Code Factory MLD have been operating in the IT sector since 2004, specializing in developing custom-made software, quality control, and IT support. In addition to software centers in Moldova and Romania, the companies have local representative offices in Ireland and the United Kingdom. Code Factory ROM and Code Factory MLD provide their services to clients from sectors such as fintech, e-commerce, and online sport betting, e.g. in the United Kingdom, the USA, Canada, Germany, Malta, South Africa, and South Korea. Currently, the companies employ approx. 200 high level specialists and generate a total annual revenue of approx. EUR 11M.